Check back later this morning for today’s BMR Morning Market Musings.
1. Gold is down $9 an ounce at $1,178 as of 7:00 am Pacific, under mild pressure thanks to a stronger U.S. dollar entering a Donald Trump news conference scheduled for 8:00 am Pacific…the Dollar Index has jumped two-thirds of a point to 102.74..
2. Crude Oil prices have rebounded today following news of Saudi supply cuts to Asia, but persistent doubt over output reductions and signs of rising shipments from other producers have kept gains in check…WTI has added 63 cents to $51.45 as of 7:00 am Pacific…
3. The Venture is off 3 points at 791 as of 7:00 am Pacific after having advanced in 10 sessions out of the last 12…the TSX has added 14 points while the Dow has climbed 67 points through the first 30 minutes of trading…
4. NexGen Energy (NXE, TSX) has crossed the $3 barrier for the first time, touching a new high of $3.13…other Uranium stocks are also showing continued strong momentum in early trading today…Purepoint Uranium (PTU, TSX-V) has hit a nearly 3-year high of 17.5 cents while Energy Fuels (EFR, TSX) has jumped another 24 cents to $3.13…Anfield Resources (ARY, TSX-V), which has recently developed multiple potential production scenarios, is up half a penny at 15 cents as of 7:00 am Pacific…
5. Cordoba Minerals (CDB, TSX-V) has drilled 108 m grading 1.26% Cu and 0.87 g/t Au from surface at its San Matias Copper-Gold Project in Colombia…that’s one of the best intersections to date on the project with mineralization outside the current Inferred mineral resource shell and still open to the east of the Alacran deposit…mineralization at Alacran has now been intersected over a strike length of 1.3 km, to widths of up to 400 m, and extends from surface to depths of more than 260 m…CDB is up 3 pennies at 77 cents as of 7:00 am Pacific…
6. Pure Gold Mining (PGM, TSX-V) has launched a 70,000-m drill program at its 100%-owned Madsen Gold Project in the Red Lake Camp…the phased program is designed to focus on resource growth and concurrently advance Madsen toward operational readiness…drilling has re-commenced on the project with 4 diamond drill rigs prioritized for the McVeigh, Austin and A3 targets of the Madsen mine…a resource update incorporating more than 150,000 new meters of diamond drilling is targeted for the 2nd half of 2017…
7. Probe Metals (PRB, TSX-V) unveiled plans yesterday for a major expansion of its drilling at Val d’Or East where the company made a high-grade Gold discovery at depth last month to go along with an existing near-surface deposit…a 50,000-m program is designed to expand the known mineral resources and test high-priority satellite targets at Val d’Or East, including the recently acquired Bonnefond North and Cadillac Break East acquisitions…the consolidated Val d’Or East land package now represents a district-scale opportunity of approximately 231 sq. km of underexplored ground located within one of Canada’s leading Gold mining camps…
JAX – Jon, can you provide a chart? Interested in this one as they seem to have a great project and the PP was done at 7 cents. Insiders participated in the PP which is another positive. Thanks
Comment by Dan1 — January 11, 2017 @ 8:30 am
DBV – watching paint dry.
Hope this is the calm before the run
Comment by weatheritout — January 11, 2017 @ 9:47 am
guess the sky isn’t falling just yet anyway,could we see 1200 gold by Friday or maybe even today.
Comment by Laddy — January 11, 2017 @ 10:09 am
Yes, Dan1, this morning.
Comment by Jon - BMR — January 11, 2017 @ 10:12 am
Very significant day if you look closely at how Gold and the U.S. dollar have behaved.
Comment by Jon - BMR — January 11, 2017 @ 10:30 am